France says securing military in Syria as US begins withdrawal
October 14, 2019, 7:33 am

France says securing military in Syria as US begins withdrawal

France, which is part of the US-led coalition fighting ISIS in the region, has special forces operating in northeastern Syria. (Supplied).

France said on Monday it was taking measures to ensure the safety of its military and civilian personnel in northeastern Syria as the United States begins to withdraw its forces from the area following a Turkish offensive against Kurdish militias.

France has been one of the main allies in the US-led coalition fighting ISIS in Syria and Iraq, with its warplanes used to strike militant targets and its special forces on the ground coordinating with Kurdish and Arab fighters.

The United States announced on Sunday that it was beginning a deliberate withdrawal of around 1,000 troops from northern Syria, a process that US officials told Reuters could take days, rather than weeks.

“Measures will be taken in the coming hours to ensure the safety of French military and civilian personnel present in the zone as part of the international coalition fighting ISIS and humanitarian action,” the French presidency said in a statement after an emergency defense cabinet meeting. It did not provide further details.

French officials have previously said that a US withdrawal would force them to also leave, given they rely on US logistical support.

A regional diplomatic source told Reuters on Thursday that Paris was preparing to pull out its several hundred special forces. They are operating closely with Kurdish-led forces, who are now the target of Turkey’s offensive in northern Syria. French aid workers are also in the zone.

In another headache for the Elysee, dozens of ISIS fighters and hundreds of French women and children are being held by Kurdish groups in areas close to the Turkish offensive.

France fears they could escape amid the offensive, return home and carry out attacks or fall under the hands of the central Damascus government, which could use them as bargaining tools.

“The absolute priority must be to stop the resurgence of ISIS in the region,” the presidency said, adding that the risk of “ISIS terrorists” escaping was being taken fully into consideration.

France has repeatedly said that foreign fighters should be judged and imprisoned where they had committed their crimes, dismissing any possibility of them being brought home. Analysts say that position is becoming increasingly untenable given the evolving situation.

The Elysee said additional measures were being taken to strengthen security on French territory.

“France will increase its diplomatic efforts ... to obtain an immediate end to the Turkish offensive,” it said.

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BENEFIT, the Kingdom’s innovator and leading company in Fintech and electronic financial transactions service, held its Annual General Meeting (AGM) at the company’s headquarters in the Seef District.
During the meeting, shareholders approved all items listed on the agenda, including the ratification of the minutes of the previous AGM held on 26 March 2024. The session reviewed and approved the Board’s Annual Report on the company’s activities and financial performance for the fiscal year ended 31 December 2024, and the shareholders expressed their satisfaction with the company’s operational and financial results during the reporting period.
The meeting also reviewed the Independent External Auditor’s Report on the company’s consolidated financial statements for the year ended 31 December 2024. Subsequently, the shareholders approved the audited financial statements for the fiscal year. Based on the Board’s recommendation, the shareholders approved the distribution of a cash dividend equivalent to 10% of the paid-up share capital.
Furthermore, the shareholders endorsed the allocation of a total amount of BD 172,500 as remuneration to the members of the Board for the year ended 31 December 2024, subject to prior clearance by related authorities.
The extension of the current composition of the Board was approved, which includes ten members and one CBB observer, for a further six-month term, expiring in September 2025, pending no objection from the CBB.
The meeting reviewed and approved the Corporate Governance Report for 2024, which affirmed the company’s full compliance with the corporate governance directives issued by the CBB and other applicable regulatory frameworks. The AGM absolved the Board Members of liability for any of their actions during the year ending on 31st December 2024, in accordance with the Commercial Companies Law.
In alignment with regulatory requirements, the session approved the reappointment of Ernst & Young (EY) as the company’s External Auditors for the fiscal year 2025, covering both the parent company and its subsidiaries—Sinnad and Bahrain FinTech Bay. The Board was authorised to determine the external auditors’ professional fees, subject to approval from the CBB, and the meeting concluded with a discussion of any additional issues as per Article (207) of the Commercial Companies Law.
Speaking on the company’s performance, Mr. Mohamed Al Bastaki, Chairman BENEFIT , stated: “In terms of the financial results for 2024, I am pleased to say that the year gone by has also been proved to be a success in delivering tangible results. Growth rate for 2024 was 19 per cent. Revenue for the year was BD 17 M (US$ 45.3 Million) and net profit was 2 Million ($ 5.3 Million).

Mr. Al Bastaki also announced that the Board had formally adopted a new three-year strategic roadmap to commence in 2025. The strategy encompasses a phased international expansion, optimisation of internal operations, enhanced revenue diversification, long-term sustainability initiatives, and the advancement of innovation and digital transformation initiatives across all service lines.
“I extend my sincere appreciation to the CBB for its continued support of BENEFIT and its pivotal role in fostering a stable and progressive regulatory environment for the Kingdom’s banking and financial sector—an environment that has significantly reinforced Bahrain’s standing as a leading financial hub in the region,” said Mr. Al Bastaki. “I would also like to thank our partner banks and valued customers for their trust, and our shareholders for their ongoing encouragement. The achievements of 2024 set a strong precedent, and I am confident they will serve as a foundation for yet another successful and impactful year ahead.”
Chief Executive of BENEFIT; Mr. Abdulwahed AlJanahi commented, “The year 2024 represented another pivotal chapter in BENEFIT ’s evolution. We achieved substantial progress in advancing our digital strategy across multiple sectors, while reinforcing our long-term commitment to the development of Bahrain’s financial services and payments landscape. Throughout the year, we remained firmly aligned with our objective of delivering measurable value to our shareholders, strategic partners, and customers. At the same time, we continued to play an active role in enabling Bahrain’s digital economy by introducing innovative solutions and service enhancements that directly address market needs and future opportunities.”
Mr. AlJanahi affirmed that BENEFIT has successfully developed a robust and well-integrated payment network that connects individuals and businesses across Bahrain, accelerating the adoption of emerging technologies in the banking and financial services sector and reinforcing Bahrain’s position as a growing fintech hub, and added, “Our achievements of the past year reflect a long-term vision to establish a resilient electronic payment infrastructure that supports the Kingdom’s digital economy. Key developments in 2024 included the implementation of central authentication for open banking via BENEFIT Pay”
Mr. AlJanahi concluded by thanking the Board for its strategic direction, the company’s staff for their continued dedication, and the Central Bank of Bahrain, member banks, and shareholders for their valuable partnership and confidence in the company’s long-term vision.